How to Get Started With CryptoKitties

Many years ago the Sunday Times stated that there are two types of people: Those who have read Lord of the Rings and those who are still going to. It seems we can make a similar statement about cryptocurrency adoption.

One application that is bridging the divide is a game about collecting cats. Launched on 28 November 2017, CryptoKitties is taking the world by storm. So much so that the ethereum platform the game runs on is pulling strain.

The ethereum network is a blockchain-based network in a similar vein to the bitcoin network, but with some smart contracting features built-in.

At first glance one might think the game is just one more cat collection game with an in-store element included. In my opinion this game is much more than that – eventually it might get a footnote in history next to the almighty bitcoin. Bitcoin showed that blockchain can be monetized. This application shows that fun can be derived from the blockchain. Many game developers’ eyes have opened up and rip-offs will follow. Soon.

Look past the cats and the cute website interface and you’ll notice that this is game can generate some serious money for its players – a single cryptokittie recently sold for $117,000. However getting started is not cheap. Buying a semi-decent cat starts off at about $30.

How to Get Started With CryptoKitties

Open an Account with a Crypto Exchange

You will need an exchange to turn your fiat currency into ethereum. Some recommended exchanges are Coinbase or Coinmama for US citizens or Luno if you are in Europe or Asia. Have a look at their costs as repeat transactions can eat into your funds. We won’t describe the step-by-step procedure to open an account here – there should be many useful Google links describing the process on your preferred exchange.

Download Chrome Extension MetaMask

MetaMask opens a wallet for you on the ethereum network. It can in fact do so much more. Want to create your own virtual currency? You can do it with a couple of clicks in MetaMask. But I digress.

Start by creating a password:

On the following screen the plug-in will show you 12 random words. These words are very important. This is to recover your account later should something go wrong. Write them down in sequence on a piece of paper and place it in your safe. Hundreds if not thousands of dollars are at risk if you lose your wallet.

Click on the 3 dots (blocked in red below).

Click on “Copy Address to clipboard”. A long alphanumeric string will be copied to memory. This is your address on the ethereum network. Please write this on a paper as well and put in your safe and don’t lose it. The payment you make from your cryptocurrency exchange will go to this address.

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